’Our programme continues to evolve and grow its impact,’ says group chief information and digital officer

Insurer Zurich has launched the fifth edition of its Innovation Championship for startups, a statement released yesterday (8 January 2024) said.

The programme is an annual, worldwide competition that offers startups, scaleups and entrepreneurs the opportunity to collaborate with the insurer during an accelerator programme. 

The 10 winning startups will then enter a validation phase between May and September and receive project funding of up to $100,000 (£78,613).

During this phase, startups work closely with the country teams and receive further coaching from subject matter experts.

Ericson Chan, Zurich group chief information and digital officer, said: “Joining forces with top innovators and startups, we’re redefining insurance at the dawn of hyper-innovation.

“Beyond this global championship, we’re reaching new heights to make life better and simpler.”

Programme evolution 

Startups can sign up in four different categories, including commercial insurance, digital simplification, life and health as well as retail property and casualty.

Country executive teams then select the startups they are most passionate about working with. This allows business units to collaborate with startups that are the best fit for them and their specific challenge.

After this, 10 members of Zurich’s executive leadership team choose the global winners for the validation phase.

Paolo Mantero, Zurich group chief strategy officer, said: “Building on the success of the first four editions, which have led to over 50 ongoing collaborations, our programme continues to evolve and grow its impact.

“This makes me even more excited for this year’s edition and the initiatives we will see come out of it as a result.”